Abbey increases rates and slashes maximum loan for offset

Abbey for Intermediaries is increasing rates on a number of its fixed and tracker mortgage products from tomorrow by between 0.10 per cent and 0.50 per cent.

It has also almost halved the maximum loan amount on its flexible offset product from £1m down to £550,000.

In addition, the lender is withdrawing selected no-fee two-year, three-year and five-year fixed rate products at 60 per cent, 75 per cent and 85 per cent LTV and selected two-year tracker remortgage products at 85 per cent LTV.

A spokeswoman for Abbey for Intermediaries says: “Like all lenders, we constantly review our range in line with market conditions and competitor movements. We are committed to supporting the housing market and continue to offer a wide range of competitive products to meet borrowers’ needs.”

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